Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. The Prime Minister would be aware that the total cost of superannuation tax concessions is forecast to outstrip the cost of the age pension within four years. Therefore, can the Prime Minister please explain the logic of the Liberal government cutting part-pensions instead of reducing superannuation concessions for high-income earners who already have millions of dollars in superannuation?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

The Leader of the Opposition seems to have given up on his scare campaign on penalty rates and now seems to want to launch a new assault on superannuation. The fact is, as the honourable member knows, that Australia's superannuation system is a critical part of the savings plans, the retirement plans, the financial security, of millions of Australians. His desire to assault it, his desire to undermine it, is really no more than—yet again—the Labor Party playing the politics of envy. Really? I say to the Leader of the Opposition that he should be better than that.